The Annual Percentage Rate, or APR, is often the most misunderstood number consumers see when applying for a mortgage. Even though consumers are provided mounds of documentation explaining various processes, closing costs and cash-to-close requirements, it seems the APR is the number that causes more head-scratching than others. Too often,
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Our Hamilton for Heroes mortgage program is not only for active and retired Military and Veterans. These benefits are now available to active Police Officers, Firefighters and Emergency Medical Technicians (EMTs).
Most families will go above and beyond the call of duty to help each other out. But have you ever heard of a relative selling a home to another relative with no down payment? It happens; it happens all the time. The down payment comes in the form of a
Getting someone to agree to cosign on a mortgage with you means someone else has agreed to pay your mortgage for you should you no longer be able to do so. Yet while cosigning can help in some instances it’s not as pervasive a practice as it used to be.
If your mortgage loan was declined, it’s not the end of the world. It’s just a temporary setback. There are many reasons why the lender says no to a buyer, but the most common reason is the Debt-to-Income Ratio is too high. If you owe too much of your monthly
How to Get Prepared for a Mortgage Application The first thing need to do is come up with a plan of action. You can’t just jump into this without thinking it through first. Obviously, you need to pre-prepare for the process and that’s what this article will be about. However,
Higher-end clients will fit into the “jumbo” category when obtaining a home loan. I’m not really sure where the name originally came from, but it is so-called because the amounts borrowed are higher than the prevailing conforming loan limit. In greater Austin, the conforming loan limit is $417,000, as established
For some reason, mortgage insurance has taken a bum rap from some. It’s a nuisance, an unnecessary expense that borrowers pay, but the lender benefits. Or so they say.
Thinking about buying a house? No doubt, it can be an intimidating process for first-time homebuyers – but it doesn’t have to be.
Why refinance? Well, for starters, you can obtain a lower interest rate by choosing a program at a better rate than you currently have. You can lower your payment by stretching out your current balance over a new 30-year term. This means it will take longer for you to pay
What is bad credit? Ask a hundred lenders and you’re bound to get a hundred different answers. The truth is: you have dozens of credit scores, and they vary depending on the credit bureau and scoring model. It’s your FICO score, however, that really matters; 90% of lenders use this